Weekly Update – 22 August 2020 – LS Trader

Stocks

The Nasdaq 100 ended the week with a new all-time high close. The S&P 500 also made a new all-time high weekly close. Clearly, the trend is up for both markets.

The Dax and the Nikkei are both in long-term downtrends, but both are within range of breakouts that would complete a trend reversal to up.

Commodities

Copper rallied to reach its highest level since April last year but has pulled back since the breakout. Gold and Silver continue to chop around, but both remain in long-term uptrends. Silver remains strongest and is holding above short-term support.

The energy sector continues its recent recovery and has already seen a couple of markets in the sector complete a trend change to up, with the remaining markets testing resistance.

Currencies

The Dollar Index ended the week higher as there are signs that a bottom may be forming, at least for the short-term. Currently, the trend remains against the dollar against all of the majors.

Interest rate futures

Interest rate futures continue to trade in a sideways quiet channel as volatility remains at very low levels. The long-term trend remains up across the sector. Upside breakouts are within range for all markets in the sector. Change of long-term trend to down levels are likely out of range for at least another week or so.

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